insurance problems

Leslilake1 at aol.com Leslilake1 at aol.com
Wed Apr 19 23:04:09 PDT 2000


Went to pay my car insurance bill today, and in the course of discussing why my rates were increasing despite clean record, my agent told me that Allstate would be "firing" all of its agents by next year - and nobody knows exactly what's going to happen after that - their services to be replaced by the Internet, possibly. He also said that he wasn't able to write policies for 80% of the business that walked in his door because of credit problems. And that he had had to lay off all of his staff except his wife because of his margins being squeezed by Allstate. And that - I didn't get the details of this - that the insurance business was in big trouble generally, not only Allstate, and there were going to be big rate hikes next year. I had to stop talking because there were people waiting behind me - does anybody have any background on this?

LJ



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